Covered Call ETFs
103 ETFs · AUM: $136.49B
Covered call ETFs generate income by holding a portfolio of stocks or index positions while systematically selling call options against those holdings. This strategy collects option premium as income but caps upside potential, creating a trade-off between higher current yield and reduced capital appreciation. These funds have surged in popularity among income-focused investors seeking yields that far exceed traditional dividend funds.
Leading covered call ETFs include JEPI (JPMorgan Equity Premium Income ETF), which combines a defensive equity portfolio with equity-linked notes to generate income with reduced volatility, XYLD (Global X S&P 500 Covered Call ETF), which writes at-the-money calls on the S&P 500, and QYLD (Global X NASDAQ 100 Covered Call ETF), which applies the same strategy to the NASDAQ-100 for higher yields.
Covered call ETFs are best suited for income-focused investors who are comfortable sacrificing some upside in exchange for consistent monthly distributions. JEPI has become one of the most popular ETFs overall due to its attractive yield and reduced volatility profile. However, in strong bull markets, covered call ETFs will significantly underperform their underlying indices because the sold options cap gains. These funds work well in flat or moderately rising markets where the premium income can boost total returns. Investors should understand the return profile trade-offs before allocating a significant portion of their portfolio.
103 ETFs found
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| Symbol▼ | Fund Name▼ | AUM▲ | Price▼ |
|---|---|---|---|
| SDTY | YieldMax S&P 500 0DTE Covered Call Strategy ETF | $46.4M | $40.83 |
| SRHR | SRH REIT Covered Call ETF | $47.6M | $61.05 |
| PSTR | Peakshares Sector Rotation ETF | $51.5M | $30.61 |
| PLGI | PL Growth and Income ETF | $56.0M | $24.48 |
| SLJY | Amplify SILJ Covered Call ETF | $56.2M | $27.03 |
| IWMW | iShares Russell 2000 BuyWrite ETF | $56.7M | $39.36 |
| YETH | Roundhill Investments - Ether Covered Call Strategy ETF | $59.5M | $8.79 |
| XYLG | Global X S&P 500 Covered Call & Growth ETF | $64.2M | $28.73 |
| VEGA | AdvisorShares STAR Global Buy-Write ETF | $89.0M | $51.80 |
| KLIP | KraneShares KWEB Covered Call Strategy ETF | $101.0M | $24.16 |
| FRGN | Horizon International Equity ETF | $107.8M | $30.57 |
| HYGW | iShares High Yield Corporate Bond BuyWrite Strategy ETF | $111.7M | $28.81 |
| MAGY | Roundhill Magnificent Seven Covered Call ETF | $117.8M | $40.39 |
| TPZ | Tortoise Electrification Infrastructure ETF | $129.1M | $22.35 |
| YBTC | Roundhill Investments - Bitcoin Covered Call Strategy ETF | $129.8M | $17.75 |
| HSPX | Global X S&P 500 Covered Call ETF | $147.9M | — |
| QYLG | Global X Nasdaq 100 Covered Call & Growth ETF | $155.2M | $28.42 |
| GLDI | UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033 | $166.2M | $141.17 |
| RDTE | Roundhill Investments - Russell 2000 0DTE Covered Call Strategy ETF | $170.4M | $28.17 |
| DJIA | Global X - Dow 30 Covered Call ETF | $182.3M | $22.29 |
| LDRX | SGI Enhanced Market Leaders ETF | $200.6M | $35.13 |
| SCEP | Sterling Capital Hedged Equity Premium Income ETF | $214.7M | $24.65 |
| USOI | UBS AG ETRACS Crude Oil Shares Covered Call ETNs due April 24, 2037 | $253.3M | $45.24 |
| LQDW | iShares Investment Grade Corporate Bond BuyWrite Strategy ETF | $266.9M | $23.42 |
| TCAL | T. Rowe Price Capital Appreciation Premium Income ETF | $279.1M | $22.70 |
| HEDG | Equable Shares Hedged Equity ETF | $301.0M | $30.06 |
| IVVW | iShares S&P 500 BuyWrite ETF | $324.7M | $44.22 |
| XDTE | Roundhill Investments - S&P 500 0DTE Covered Call Strategy ETF | $335.1M | $38.07 |
| PBP | Invesco S&P 500 BuyWrite ETF | $353.0M | $22.89 |
| HEPZF | Global X Gold Producer Equity Covered Call ETF | $379.7M | — |
| SLVO | UBS ETRACS Silver Shares Covered Call ETN | $386.1M | $62.74 |
| AIPI | REX AI Equity Premium Income ETF | $414.2M | $34.42 |
| PAPI | Parametric Equity Premium Income ETF | $432.9M | $27.68 |
| NBOS | Neuberger Berman Option Strategy ETF | $467.7M | $28.02 |
| WTPI | WisdomTree Equity Premium Income Fund | $495.0M | $32.70 |
| FEPI | REX FANG & Innovation Equity Premium Income ETF | $666.7M | $39.70 |
| ULTY | YieldMax Ultra Option Income Strategy ETF | $800.9M | $26.61 |
| QDTE | Roundhill Investments - Innovation-100 0DTE Covered Call Strategy ETF | $909.3M | $28.53 |
| FTQI | First Trust Nasdaq BuyWrite Income ETF | $924.3M | $21.73 |
| BUYW | Main BuyWrite ETF | $1.28B | $14.48 |
| BALI | iShares U.S. Large Cap Premium Income Active ETF | $1.29B | $33.68 |
| IDVO | Amplify CWP International Enhanced Dividend Income ETF | $1.34B | $42.27 |
| RYLD | Global X - Russell 2000 Covered Call ETF | $1.36B | $15.94 |
| TLTW | iShares 20+ Year Treasury Bond BuyWrite Strategy ETF | $1.86B | $21.57 |
| ACIO | Aptus Collared Income Opportunity ETF | $2.38B | $45.69 |
| FTHI | First Trust BuyWrite Income ETF | $2.40B | $23.68 |
| XYLD | Global X - S&P 500 Covered Call ETF | $3.20B | $40.72 |
| GPIX | Goldman Sachs S&P 500 Premium Income ETF | $4.89B | $54.73 |
| GPIQ | Goldman Sachs Nasdaq-100 Premium Income ETF | $5.07B | $55.15 |
| DIVO | Amplify CWP Enhanced Dividend Income ETF | $7.44B | $46.65 |